Grant Investrade to invest Rs 300 cr in IndusInd Media

Hinduja Ventures is the majority shareholder of cable distribution company IndusInd Media. The capital will be used to expand the digital base of IMCL and to improve customer services

BestMediaInfo Bureau | Delhi | December 17, 2013

Grant Investrade Ltd (GIL), a wholly owned subsidiary of Hinduja Ventures Ltd (HVL), has decided to invest Rs 300 crore in the cable distribution business managed by INCableNet and INDigital in India. HVL is the majority shareholder of IndusInd Media & Communications (IMCL), the cable distribution company of the Hinduja Group.

The capital infusion is aimed at taking advantage of opportunities thrown by digital conversion from analogue transmission as mandated by the Information & Broadcasting Ministry. Phase I and Phase II of the Digital Addressable System (DAS) have already been completed and several consolidation opportunities are coming up. The capital will be used to expand the digital base of IMCL and to improve customer services.

HVL is the holding company of one of India's largest integrated media companies, IMCL. With an estimated 8.5 million subscribers across 36 major cities, the company offers over 350 channels in the digital mode. It has a backbone of over 10,000 km of hybrid fibre optic network through which it also offers broadband services with its national ISP licence. IMCL has gone ahead with the first two phases of the digital revolution being ushered in. DAS was introduced on November 1, 2012, in phases and offers a unique opportunity to IMCL to make all its subscribers addressable and monetise its subscription revenues manifold. IMCL has planned new services for the digital cable foray, apart from the broadband services such as HD, hybrid STBs for cable and internet and value added services for digital cable.

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